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Released f o r nablicrvfcion Friday morning, Sept. 7; not e a r l i e r . STATEMENT FOB THE PEESS St. 5899 F e d e r a l Reserve Board, September 6, 192S. CONDITION OF FEDERAL RESERVE BANKS The c o n s o l i d a t e d statement of c o n d i t i o n of t h e F e d e r a l r o s e r v e "banks on September 5» made p u b l i c by the F e d e r a l Reserve Board, shows i n c r e a s e s f o r the week of $41,300,000 i n h o l d i n g s of d i s c o u n t e d b i l l s , of $2,500,000 i n b i l l s bought i n open market, of $50,000,000 i n Federal r e s e r v e note c i r c u l a t i o n , and of $4,700,000 i n member bank r e s e r v e d e p o s i t s , and d e c r e a s e s of $2,b00,000 i n h o l d i n g s of U. S. s e c u r i t i e s , and of $17,o00,000 i n cash r e s e r v e s . Total b i l l s and s e c u r i t i e s were $41,300,000 above the amount h e l d on August 29. The p r i n c i p a l changes i n h o l d i n g s of d i s c o u n t e d b i l l s wero i n c r e a s e s of $57,700,000 at t h e F e d e r a l Reserve Bank of New York and $15,300,000 at San F r a n c i s c o , and d e c r e a s e s of $25,500,000 a t Chicago and $5,500,000 a t Cleveland. The System 1 s h o l d i n g s of b i l l s bought i n open market i n c r e a s e d $2,500,000, while h o l d i n g s of U. S. bonds d e c l i n e d $900,000, of Treasury n o t e s $1,200,000, and of c e r t i f i c a t e s of indebtuuness $500,000. All F e d e r a l r e s e r v e banks r e p o r t / l a r g o r Federal r e s e r v e note c i r c u l a t i o n than a week ago, the p r i n c i p a l i n c r e a s e s b e i n g $15,700,000 a t the F e d e r a l Reserve Bank of New York, $7,300,000 at San F r a n c i s c o , $6,900,000 a t Chicago, $5,300,000 a t Boston, and $3,700,000 a t D a l l a s . A summary of changes i n the p r i n c i p a l a s s e t s and l i a b i l i t i e s of the r e serve banks d u r i n g t h e week and the y e a r ending September 5, 1928, f o l l o w s : Increase or decrease Week Total r e s e r v e s Gold r e s e r v e s - Total b i l l s and s e c u r i t i e s B i l l s discounted, t o t a l . Secured by U.S.Govt, o b l i g a t i o n s . Other b i l l s d i s c o u n t e d B i l l s bought i n open market . . . . U.S.Government s e c u r i t i e s , t o t a l . . Bonds Treasury n o t e s C e r t i f i c a t e s of i n d e b t e d n e s s . . Federal r e s e r v e n o t e s i n c i r c u l a t i o n . T o tal d e p o s i t s Members' r e s e r v e d e p o s i t s . . . . . Government d e p o s i t s + + + - Year $17,600,000 9,700,000 41,300,000 41,300,000 47,700,000 6,4oo,ooo during - - + + + + $377,900,000 380,500,000 327,700,000 630,600,000 410,100,000 220,600,000 10,500,000 + 2,500,000 _ 2,600,000 900,000 1,200,000 500,000 - 293,100,000 183,800,000 21,600,000 87,700,000 + 50,000,000 - 19,700,000 — 19,100,000 4,700,000 18,400,000 - 62,200,000 45,100,000 11,900,000 - - 4. - - — - - Released foi- p u b l i c a t i o n Friday morning, Sept. 7,1928; not e a r l i e r . St. 5839a EESOUitCilo LIABILITIES OF THE TWELVE FEDERAL EE SERVE B.''2IKS OUjudIUED (In thousands of d o l l a r s ) RE S O U R C E S Gold with Federal reserve agents . . . . Gold redemption fund with U.S.Treasury . Sept. *5.1928 Aug. 29.1928 Sept. 7.1927 1,082,429 66,351 1,093,337 65,243 1,148,780 1,159,080 1,579.526 43,233 •1,622,764 724.839 734.840 694,143 672,786 'Tot?! Fold r e s e r v e s . Reserves other than gold . . . 751,333 709,031 2,609,149 138,148 2,618,309 146,085 2,989,693 135,549 Total r e s e r v e s . Non-reserve cash 2,747,297 52,296 2,764,894 •33,241 3,125,242 45,596 652,032 428,085 1,080,117 186,796 604,316 434,457 1,033,773 184,299 241,953 207,531 449,484 197,306 53,883 87,026 65,476 206,385 54,764 88,251 65,949 208,964 237,700 108,603153,166 990 1,474,23s 571 681,537 60,255 3,931 990 499,469 320 1,433,026 574 615,468 60,132 8,913 1,146,579 12,267 689,215 ' 59,579 19,512 5,025,275 4,941,248 5,097,990 1,701,035 1,650,996 1,720,715 2,273,343 8,946 6,347 16,941 2,268,682 27,324 9,799 18,877 2,324,682 562,768 i44,s6o 233,319 24,623 4,941,248 2,318,415 20,803 5,487 23,054 Gold held e x c l u s i v e l y nzrainst. F.E.notes Gold settlement fund vrith F. E. Board . Gold and gold c e r t i f i c a t e s h e l d by banks B i l l s discounted: Sec. by U.S. Government o b l i g a t i o n s Other b i l l s discounted . . . Total b i l l s discounted . B i l l s bought i n open market . . . U. 5. Government s e c u r i t i e s : Bonds . . . Treasury notes C e r t i f i c a t e s of indebtedness . . Total U.S.Govt, s e c u r i t i e s Other s e c u r i t i e s Total b i l l s and s e c u r i t i e s Due from f o r e i g n banks Uncollected items Bank premises . . All other resources TOTAL RESOUECES . L I A B I L I T I E S 1. E. notes i n a c t u a l c i r c u l a t i o n Deposits: Member bank - reserve account . Government . Foreign bank Other deposits Total d e p o s i t s . . . Deferred a v a i l a b i l i t y items . . . Capital paid i n Surplus . . . All other l i a b i l i t i e s TOTAL LIABILITIES . . . Ratio of t o t a l r e s e r v e s to deposit and F. R. note l i a b i l i t i e s combined . . . Contingent l i a b i l i t y on b i l l s purchased f o r f o r e i g n correspondents . . . . . . c. 2,305,577 615,257 144,924 233,319 25,163 5,025,275 68. 279,049 2,367,759 636,403 130,668 228,775 13,670 5,097,980 69 . 55S 76.4# 277,897 174,107 R E S O U R C E S RESOURCES AMD L I A B I L I T I E S OF THE FEDERAL RESERVE BANKS OH SEPTEMBER 5 , 192S. ( i n t h o u s a n d s of d o l l a r s ) T o t a l B o s t o n New Y o r k F h i l a . Cleve. Rich. A t l a n t a Chicago S t . L o u i s 175,09% 18,025 K Bt^ot.y 1 8 1 7 8 1 ' 7 193,116 84,649 l47,5><9 a,443 70,590 228,368 20,893 45,4n 49,435 17,310 l6o,4lg ^4:487 ^:oi8 te',801 ^ : l 7 4 "iteS ^ ! s i l f^',918 "7:112 12:230 33:&85 835,331 150,027 267,462 86,o49 484,373 61,112 71,oa 98,67s 15,016 17,708 16,519 U83& 5^32 69,296 101,065 502,081 3,499 4,107 6,922 77,631 3.345 72,859 103,810 9S3 1,838 ;>2,'to3 2 3 ? » 3 4 l 1,985 3,285 63,230 11 18,786 8,579 24,848 10,604 29,9l4 100,846 10,635 24,228 11,335 -490 17,317 19,^01 1,148,780 114,598 loqioll §:872 Totnl gold reserves rves other than gold Total reserves reserve cash 2,609,l49 223,151 138,148 11,159 2,747,297 234,310 52,296 5,130 24,822 6,554 14,225 860,153 156,581 281,687 15,877 1,712 3,603 BHL^r 6 " 10 ™ 4:':^ %% « Total "bills discounted s L o u ^ h t i n nr*3n m a r k e t 1,080,117 186,796 56,182 22,823 206,335 8,8i6 350,202 105,415 47,113 11,355 18,713 2.730 59,766 9,530 66,207 214,449 4,383 L212 ^ ^ 76,100 15,193 58,822 6,124 78,658 112,064 11,870 15,201 35,236 3,276 l4,868 ^02$ M i a n . K , n s , C ; / . D a l l a s Sai.. T r a r - with Federal Reserve Agents 1,082,429 109,873 redemption fund with U.S.Treas. 66,351 4,725 agdD3t 77,781 142,352 6,868 5.197 S t . 5^99% 4 4 , 4 8 9 '+6,480 1 ^ 2 . _ _ 2 ^ 15,355 1 5 6 , m l ^ LklL_ 47,721 2 2 4 , 4 5 s 4,762 10,883_ ga::::, n m m 11 # :i a is ; iniUijil ^Pntni Tf.R. Govt, s e c u r i t i e s r securities EE: Total h i l l s and s e c u r i t i e s TOTAL RESOURCES c. 990 - 33,336 22,189 5.423 34,436 - 500_ 18,720 # M i M i i i i M M "i 1,474,288 87,821 4 3 1 , 6 5 1 138,959 129,529 68,222 95,951 161,701 68,291 39,190 52,769 56,350 143,854 5,025,275 394,270 1,504,815 352,390 487,460 198,151 229,76s 764,107 187,069 131,823 208,45s 141.419 425,545 L I A B I L I T I E S F.E.notes in actual circulation Deposits: Member "bank - r e s e r v e account Government Foreign bank Other d e p o s i t s T o t a l de-posits Deferred a v a i l a b i l i t y items ^Capital p a i d i n Surplus A l l or.her l i a b i l i t i e s R3SLRVS S A ^ S CS 3H22SZB 5, 1928. BE SOURCE 3 ATD LIABILITIES OF TES ( I n thousands of d o l l a r s ) Total Boston Hew York F h i l a . Clove. Rich. A t l a n t a Chicago S t . L o u i s Minn. Kans.Cy. D a l l a s San Fran. 1,701,035 153,261 3 5 9 , 2 1 6 1 3 2 , 6 6 9 1 9 9 , 6 0 7 5 3 , 0 6 7 1 2 7 , 5 0 7 2 8 7 , 5 4 4 57,129 5 5 , 0 0 2 6 0 , 7 6 9 3 6 , 0 1 5 1 7 4 , 1 6 9 2,273,343 150,719 3,946 30 6,347 473 16,941 235 2,305,577 151,457 615,257 144,924 233,319 25,163 6o,o4i 10,034 17,893 1,534 366,374 132,146 135,341 77 1,323 6,994 624 593 63,142 61,973 343,375 2,475 1,030 1,143 149 121 575,768 133,413 133,005 71,090 63,339 347,134 150,207 43,553 53,923 49,243 22,169 74,220 45,903 63,007 7,709 14,369 21,662 1,719 14,301 24,021 2,523 6,030 12,324 1,347 5,24o 13,213 9,996 1,467 32,773 4,163 50 366 055 321 265 1,321 376 _1,112 79,134 554 271 463 50,917 91,335 1,269 209 227 80,472 32,61b 52,656 12,964 5,400 10,397 3,017 7,039 1,145 1,055 170 300 644 92,415 41,235 4,200 9,046 Til 63,332 175,955 327 lol 221 447 5,655 _45_ 64,475 185,24s 27,497 37,539 4,304 8,527 601 10,353 16,629 1,052 TOTAL LIABILITIES 5 , 0 2 5 , 2 7 5 3 9 4 , 2 7 0 1 , 5 0 4 , 3 1 5 3 5 2 , 3 9 0 4 3 7 , 4 6 0 1 9 5 , 1 5 1 2 2 9 , 7 6 s 7 6 4 , 1 0 7 1 3 7 , 0 6 9 1 3 1 , 8 2 3 208,458 i 4 i , 4 i 9 4 2 5 , 5 4 5 Reserve r a t i o ( p e r c e n t ) 6o.6 63.6 76.9 58.3 72.7 53-7 52.9 79.1 56.4 67.7 67.7 52.2 65.5 Contingent l i a b i l i t y on b i l l s p u r chased f o r f o r e i g n c o r r e s p o n d e n t s 279,0^9 20,375 79 , 207 2 6 , 4 4 i 2 3 , 9 4 6 1 4 , 1 9 5 1 1 , 6 9 0 3 5 , 6 8 5 1 1 , 9 6 s 7,515 10,020 9 , 7 4 2 1 9 , 7 6 2 F . H . n o t e s on hand ( n o t e s r e c ' d from F.ILAgent l e s s n o t e s i n c i r c u l a t i o n ) " ^ ^ , 7 9 S 20,849 1 0 1 , 0 2 6 2 3 , 2 1 2 2 9 , 9 2 s 1 4 , 4 5 6 25,179 3 6 , 5 7 2 1 0 , 9 9 4 7,599 8,507 6,870 55,306 FEDERAL EE SERVE HOTS ACCOUNTS OF FEDERAL HE SERVE AGENTS \ B . n o t e s r e c ' d from Comptroller 2,311,418 239,960 7 2 1 , 7 2 2 1 7 3 , 0 3 1 2 6 4 , 1 4 5 9 3 , 7 7 2 222,296 4 4 i , 4 5 6 5 5 , 6 9 3 73,075 1 0 1 , 5 5 6 59,157 325,475 „R. n o t e s h e l d "by F. E. Agent 766,555 65,350 261,450 22,200 34,530 2 1 , 2 4 9 6 6 , 6 1 0 117 ,'>70 1 7 , ^ 7 0 1^,474 31,950 A i , J 7 2 _ 96,000 F . R . n o t e s i s s u e d t o F.E.Bank 2,044,333 174,110 460,242 155,351 229,615 7 2 , 5 2 3 1 5 5 , 6 8 b 3 2 4 , 1 1 6 6 5 , 1 2 3 6 2 , 6 0 1 6 9 , 5 7 6 4 2 , 5 5 5 229,>-75 ' o l l a t e r a l h e l d as s e c u r i t y f o r F . R . n o t e s i s s u e d t o F.E.Bank Gold and gold c e r t i f i c a t e s 6,690 27,100 341,321 35,300 153,161 50,000 7,600 14,167 12,303 35,000 Gold redemption f u n d 16,930 11,104 12,352 92,994 16,573 7,023 3,607 1,449 1,263 2,322 3,620 2,052 14,694 643,114 53,000 Gold f u n d - F.E. Board 5,000 66,677 30,000 5,000 35,500 213,000 6,000 23,000 42,560 1,000 107,077 1,226,166 73,935 E l i g i b l e paper 3 5 5 , 5 0 3 9 6 , 8 0 7 9 2 , 2 9 2 6 1 , 5 1 3 90,425 127,132 65,256 25,052 35,332 40,335 124,531 T o tal c o l l a t e r a l 2,303,595 133,353 5 6 0 , 5 9 4 1 7 4 , 5 3 s 2 3 4 , 6 4 4 3 0 , 2 2 6 1 5 6 , 6 3 5 3 4 1 , 5 3 1 33,124 69,541 31,812 5 5 , 6 9 0 231,302 MATURITY DISTRIBUTION OF BILLS AND CERTIFICATES OF IHHBTFDMESS 91 days to Total Within 15 days Over 0 months l 6 to 30 days 31 to 60 days b l to 90 days 6 months 1,030,117 B i l l s discounted 399,167 8,073 73,090 57,716 36,717 349 B i l l s bought i n open market 22,660 156,796 6 ,302 90,527 37,230 29,577 C e r t i f i c a t e s of i n d e b t e d n e s s 2,115 65,476 30,503 32,853 C.
@FedFRASER